Eros Media 26 Discussion Threads

[pyueck] 27/10/2022 21:29

Trading under 20p in the pound now. Not a good sign.

[bobswest] 27/10/2022 18:28

Not reversed yet. I’ll let you know if (when) it is.

[aamhager] 27/10/2022 08:29

Any reversal yet? The company clearly have not paid the coupon

[pyueck] 24/10/2022 15:39

Me neither, but took a good 15 days last time.

[scoobysurfer] 24/10/2022 11:54

No sign of it in my idealing account as of 24 Oct.

[bobswest] 22/10/2022 12:55

No, the cash is still in my account. I’m thinking of withdrawing it 😁

[aamhager] 21/10/2022 16:15

Have they reversed the payment yet?

[bobswest] 21/10/2022 08:57

Wasps left it until the afternoon of the day redemption was due before they admitted they hadn’t refinanced or found a buyer for the business. My guess is this will go the same way. However, one of the joys and sorrows of investment is that what I think will happen and what actually happens are seldom the same.

[tsaras] 21/10/2022 08:23

Let me remind you that there is a grace period for paying the coupon and Eros has been using it fully the past few times. I believe the coupon will be paid (maybe has already been paid) to get another 6 months. Now is when the real show starts. They don’t have the cash to repay the debt and refinancing will be 20%+.

I believe we will not hear anything from them. Complete radio silence. If they were serious about this bond, they would have already been discussing refinancing or cash raise to repay it.

Only solution is that some Indian billionaire buys them.?!?

No idea really. But will be exciting to see what happens. Not for my pocket, cause I’m very offside on these bonds

[bobswest] 21/10/2022 08:17

No email - they just credited my account with the cash. If they have made a mistake it wouldn't be the first time, but it's looking good....

[aamhager] 21/10/2022 07:47

What did they say exactly? And how? Email?

[grahamg8] 21/10/2022 07:11

No sign in my Hargreaves account. Did Wisealpha say the interest had actually been paid, or that it should have been paid? Due 15 October.

[bobswest] 20/10/2022 17:21

According to Wisealpha the current coupon has just been paid. I was not really expecting that!

The corpse is still breathing.

[kcalp13] 17/10/2022 04:29

In my view, UK is an integral part of the Eros business. The ownership structure of Eros is opaque but mainly controlled by offshore vehicles set up by UK banks. A few individuals control the entire business and rely upon long term success of Eros for wealth creation for this and future generations of the controlling family. Yes, there is not much liquidity/cash in the business to pay the bonds at maturity but in the long run who knows?

[pyueck] 12/10/2022 13:36

Impossible to know anything as they haven’t released results for years.

[tsaras] 11/10/2022 17:20

They will pay the upcoming coupon and go all-in at redemption.. I don't think there is any way to pay at maturity. They are a loss making business and have no cash. In addition, they screwed US investors, now it's time to screw UK investors. Will be very intersting to see how this plays out

[nicktheglobe] 11/10/2022 13:52

One factor in their favour is the weakness of the £ against both the $ and the Rupee. The debt in ERO1 has reduced by 10-25% over the last year in terms of the currencies in which they make or lose money.

[scoobysurfer] 11/10/2022 10:09

I think the fact that they didn't pay back the capital when promised will mean they will struggle to gain trust from lenders again. I certainly won't be trusting them again.

[kcalp13] 11/10/2022 09:10

Very likely coupon will be paid but bonds likely to be restructured again on maturity. CEO Kishore would value his reputation too much to screw bond investors and render his company not able to raise finance from the capital markets again; just a guess !

[tsaras] 22/9/2022 15:04

I think they will pay. And screw us on redemption

[pyueck] 21/9/2022 08:38

Not that long until next bond interest due. What chance of it being paid?

[tsaras] 01/9/2022 08:58

I disagree. They aren’t upset at all. Stage 1 of fraud is complete, international investors (NASDQ). Stage 2 will be the retail bonds. If they cared even slightly they would have started buying back some of their debt at 30%, but clearly they don’t care. They are “delivering221; onshore results, with their stock up 100% at the expense of international suckers. I’m really curious to see how this plays out

[grahamg8] 20/8/2022 09:19

Eros response to delisting seemed to be upset, although they must have known it was coming. Problems with the demerger, well yes I can understand that. But the real problem is the pre-merger accounts which should be filed in the fiction section of the local library. From memory net debt $130m including $69m for the bonds. The main (only) asset is Eros Now which could be worth just about anything. The Company forecast $120m revenue in 2023 and EBITDA of $30m. A fantasy/comedy classic I suspect.

Next crunch mid October for the interest payment, then April for the redemption

[pyueck] 19/8/2022 08:49

Who knows, I guess the stock could continue to trade on the pink sheet or be taken private. When the bond was renewed they said that the results would also be released by next November so technically think this bond is in default too but not sure what we can do about it. I have never really understood how Eros is structured and suspect there may have been a reason for this. I am not even too sure now what this bond is secured against. The Indian stock seems to be holding up ok but think this is just a subsidiary company of the US stock with some other shareholders, but quite frankly not entirely sure. Tempted to just sell for what I can but the fact that this still trades at 30p suggests it may have some future, maybe?